Day: December 27, 2018

December 27
2018

Australian Dollar Drops on Weak Chinese Data and Trade War Fears

The Australian dollar today declined against its US counterpart as markets digested the impact of weak Chinese industrial profits data on commodity-linked currencies such as the Aussie. The Aussie’s decline was further compounded by the re-emergence of Sino-US trade war fears based on recent news regarding potential orders by the US government against Chinese companies. The AUD/USD currency pair today dropped from an opening high of 0.7077 to a low of 0.7032 in the early European session. […]

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December 27
2018

Euro Rallies Post Christmas on Italian Budget News and US Politics

The euro today rallied higher against the US dollar from the Asian session despite the lack of any major European releases. The euro’s rally was largely driven by market concerns about the ongoing partial US government shutdown, which resulted in a weak US dollar. The EUR/USD currency pair today rallied from an opening low of 1.1356 to a high of 1.1400 in the early European session, but was unable to break above this crucial […]

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December 27
2018

EUR/USD Spikes Up on Poor Consumer Confidence

EUR/USD traded in an uptrend for the most part today, largely ignoring the expected figures of the weekly employment report, but posting a high spike upon release of a monthly consumer confidence report. The bulk of market reaction seems to have happened right before the release though. Initial jobless claims fell from 217k to 216k in the United States last week. The value has been expected to remain at the previous level of 217k. However, such a small […]

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